Deutsche Bank AG Boosts Stake in MGE Energy Inc. $MGEE

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Deutsche Bank AG grew its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 35.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,471 shares of the utilities provider's stock after buying an additional 10,850 shares during the quarter. Deutsche Bank AG owned 0.11% of MGE Energy worth $3,855,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Harbour Investments Inc. grew its stake in shares of MGE Energy by 8.7% during the first quarter. Harbour Investments Inc. now owns 67,285 shares of the utilities provider's stock valued at $6,255,000 after buying an additional 5,402 shares during the last quarter. XTX Topco Ltd bought a new position in shares of MGE Energy during the first quarter valued at approximately $306,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of MGE Energy during the first quarter valued at approximately $139,000. LPL Financial LLC grew its stake in shares of MGE Energy by 4.5% during the first quarter. LPL Financial LLC now owns 24,305 shares of the utilities provider's stock valued at $2,259,000 after buying an additional 1,038 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of MGE Energy by 7.0% during the first quarter. Cetera Investment Advisers now owns 29,173 shares of the utilities provider's stock valued at $2,712,000 after buying an additional 1,905 shares during the last quarter. Institutional investors own 52.58% of the company's stock.

MGE Energy Trading Up 3.3%

MGEE traded up $2.82 during trading on Friday, hitting $87.74. 163,943 shares of the stock were exchanged, compared to its average volume of 136,655. The firm has a 50 day simple moving average of $86.63 and a 200 day simple moving average of $89.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 24.37 and a beta of 0.76. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $159.45 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. As a group, equities analysts expect that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.475 per share. This is an increase from MGE Energy's previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 29th. MGE Energy's dividend payout ratio (DPR) is currently 50.00%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MGEE. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research note on Friday, May 9th. Morgan Stanley cut their target price on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell" and an average price target of $74.00.

Insiders Place Their Bets

In related news, Director James G. Berbee bought 507 shares of the stock in a transaction on Friday, August 15th. The stock was bought at an average price of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the acquisition, the director directly owned 6,329 shares in the company, valued at approximately $530,560.07. This represents a 8.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

MGE Energy Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.